I’m a Financial Advisor: This Is How My Clients Are Adjusting to Higher Costs in 2026

Laura BogartSun, April 19, 2026 at 12:58 PM UTC

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Almost every part of everyday life feels more expensive these days. You don’t need a news report to tell you that — just a trip to the grocery store or gas pump will do. As costs rise, financial advisors are challenged to help their clients adjust to what outlets like Bloomberg are calling an “affordability squeeze.”

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Michael Rodriguez, CFP, an advice-only financial planner at Equanimity Wealth, is seeing clients navigate that squeeze by building more intentional spending and saving habits. He shared several of those trends with GOBankingRates. Along the way, we found another approach families are using to make those habits stick for the long term.

Getting Disciplined About Meal Planning

One of the most noticeable shifts Rodriguez has seen in his clients’ budgets starts at home — specifically, in the kitchen. Simply put, they’re eating out less and cooking more.

“Many of my clients seem to be dining out fewer times a week and opting to cook at home to save money,” he said.

It’s a well-timed move, given that even Food & Wine magazine has flagged how much pricier restaurant meals have become in 2026. Commenting on Consumer Price Index data, writer Stephanie Gravalese noted that food away from home prices rose 4.1% over the past 12 months, while grocery prices increased at roughly half that rate — a gap that puts added strain on every decision to dine out.

Rodriguez says his clients are sparing themselves that strain by cutting food spending wherever they can — prioritizing savings over the convenience or experience of dining out.

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Overcoming Fears Around Investing

Rodriguez acknowledges that stock market headlines have been volatile, to put it mildly. Unsurprisingly, his clients are anxious about what they’re seeing, so a significant part of his job involves encouraging them to stay the course.

Reacting out of fear can lead to knee-jerk decisions you might regret down the line.

“When it comes to investing, many are nervous about the current situation, but we focus on sticking to their current plan, not reacting to the news,” he said.

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He reminds clients that consistent investing — not timing — is part of a sound financial strategy and can help maintain a sense of stability when the broader economy feels wobbly.

“We encourage paying yourself first, automating savings and investing so it’s not a second thought, especially when we see prices increasing all around,” he said.

Shaving Down Unnecessary Spending

Clients who are navigating the financial fluctuations of 2026 most successfully tend to share one trait: a willingness to cut back on nonessential expenses.

“I have rarely found a spending plan that is unable to be shaved,” Rodriguez said. “Even saving $50 here and there can make an impact over time.”

He offers a few suggestions for clients trying to reduce nonessential spending:

Unsubscribe from retailer messages. “They bombard you with ‘deals,’ which can lead to unnecessary impulse purchases.”

If you’ve saved your card with favorite retailers, remove it. “The friction of having to input your credit card will make you think twice before making that purchase.”

Adopt a “cooling-off period” of at least 24 hours for nonessential spending. “Sometimes you wake up and realize you don’t actually need to make a certain purchase after time has passed.”

Rodriguez adds that regularly revisiting your financial plan is critical, especially as prices and priorities change. What worked a few years ago may need adjusting in today’s economic environment.

Teaching Financial Skills in the Family

Anyone who grew up during financial turbulence (looking at you, millennials) knows how important it is to develop money skills early. Today’s teens will likely manage their finances across multiple economic cycles. They’ll need the confidence and skills to do it.

Fortunately, parents now have access to digital tools that make money management more hands-on. Resources like Cash App’s Families feature allow teens to manage money by setting savings goals, receiving direct deposits and using a prepaid Visa card — all while parents retain oversight.

Using tools like these can spark ongoing conversations about spending, saving and trade-offs, helping kids build habits that will serve them well into adulthood.

The Bottom Line

You may not be able to control inflation or the broader economy, but you can control how you respond to it. Making thoughtful cuts to your spending, staying disciplined with investing plans and helping your kids develop strong financial habits are great places to start.

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This article originally appeared on GOBankingRates.com: I’m a Financial Advisor: This Is How My Clients Are Adjusting to Higher Costs in 2026

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Source: “AOL Money”